DILI, 05 october 2022 ( TATOLI) – Lack of financial and human resources, President of the Timor – Leste Chamber of Commerce and Industry ( CCI – TL ), Oscar Lima, assesses that Timor Leste companies are still unable to compete with foreign companies in the construction and businesses processes in Timor Leste.
“Local and national companies are very difficult to compete with foreign companies because we have less financial and human resources and limited facilities, therefore foreign companies always lead government mega projects such as road and bridge construction and other building infrastructure in Timor. -Leste,” Oscar Lima told Tatoli in his office Bebonuk Dili.
To address these concerns Oscar Lima said, CCI-TL has submitted a proposal to the Government to facilitate bank loans to local companies at low-interest rates to enable them to lead mega projects, however, the Government has not responded to these concerns meanwhile many local companies closed their businesses and left their workers unemployed.
“Domestic investment is controlled by foreign companies, and all state revenues have been paid to foreign companies, the circulation of money continues to decrease in the country which causes domestic economic growth to slow down,”
Therefore, CCI-TL President Oscar Lima asked the government to contribute funds to national companies through banking to support Timor-Leste’s economic growth and support accession to ASEAN and the WTO in 2023.
Journalist : Camilio de Sousa
Editor: Nelia B.
